When I worked in the pits of the Chicago Board of Trade there were two kinds of people. The analyst traders and the Buy and Sell traders. In the underlying asset pits like the Bond Pit you did one thing. Buy low, sell high. It took skill but only one skill. Timing and Presence. To be successful it didn’t take a college education or any kind of acquired skill. It took the ability to get a good buy and a good sell. In the big pits it meant building the relationships to know where to go to buy. Back then brokers would come in to the pits and buy and sell the big players. They would have huge lots and they would yell out “100 AT X price” Everyone that wanted that price would raise their hand and scream SOLD SOLD SOLD. If there were multiple people then he would dole it out. If he knew you and liked you then you would get the bigger share. If you were in the back or he didn’t like you then you got nothing unless you were the only one at that price and then legally he had to take it. It was a HUGE pit. A thousand traders. The guys with seniority were at the front. But there was a way to get attention. One, you could be a beast of a human.
Some of the most successful traders were only successful because they were Giants. People that soared over everyone. When they yelled SOLD you couldn’t miss them. Guys like this would be hired just to stand next to a big trader, hold his spot in the pit, and get everyone’s attention. There is a reason a lot of ex football players became traders. You could get paid a lot of money to stand there and learn. Using their God given skill of being huge. The other way to get attention is to throw a lot of money around. There were also those guys. The guys that put everything on the line every day. Trading millions of dollars and not afraid to burn out or go bankrupt. They would take a million dollar trade and buy it all just to make sure nobody else got a piece. The “paper” the brokers coming in, knew that some people would pay a little more just to get the trade. Feeling that a tick wouldn’t make a difference in the course of things.
Guys in the options pits thought the underlying traders were dumb thugs. Because options guys were mathematicians. They ran scripts to put out sheets that told you if this, then trade this. Relations, theories, gamma, delta and other technical terms. Options traders tended to be more quiet, a little less aggressive and liked the smaller pits. I tended to be right in the middle. Didn’t quite have the technical skills to be a great options trader. I was too risky. But I got squashed in the bond pit because I was a young newbie with only a million buck to trade. That was like going to a horse race with $5.
But it taught me a ton. I saw the different ways to trade. How to negotiate. The importance of timing, patience. When to hold and when to dump. All parts of trading assets. It helps me in domain investing still today. Many domain investors would do well in the pits, most would get squashed. But then again, most people get squashed there. Or got squashed. No more squashing because its generally gone online. You don’t get to see the screaming or tears anymore. That goes on behind the scenes now and I’m sure glad I was one of the last people that got to see it and be part of it.
Domain of the Day: WheretoPark.com Love the name. Of all the apps that I think have been the most useful over the last decade, I think the parking apps have been my favorite after Uber
Quote of the Day: “The amount of energy needed to refute bullshit is an order of magnitude bigger than to produce it.” — Alberto Brandolini
Park.io Names at Auction or Available for Pickup
Cavern.io Sounds like a storage name to me. Closes today
Fleek.io A young persons word but dot io is a younger generation tld
IONames.io The perfect name to sell dot io
Ronny.io A first name. Also the name of one of the members of New Edition, my favorite group
Prove.to They used to say a mans word is good you shouldn’t have to prove it but that’s not the case anymore. Bad apples ruined it
Namejet and Sedo & More Domains at Action
CornDog.com I consider this a one word dot com. A word and thing we all know. And a brand that could be anything. 23 years old
IDH.org Dropping and no reserve. The perfect combo
HBAT.com Same for this one T for Tennessee
ElectionData.com Going to have peak value of the next few months
InnerSea.com 21 years old and taken in 20 extensions
Elania.com A first name but only 6 bids
PacificLight.com It does sound pretty
TapWorks.com Pending delete. I think I had a beer there
Godaddy Domains With Bids
2746.com Top name and price as expected. Godaddy values it pretty low for a NNNN.com but they don’t do numerics very well
ColdSprings.com The kind of name that can be anything and that’s what makes it so valuable
Easy.cc Love seeing a dot cc getting love from Godaddy and from bidders
AmericanTradition.com Sounds like Wal-Mart in house brand of Jeans
DanParker.com I always say, two first names together make great brands
CGAM.com Great letters, taken in 29 extension after 21 years of being registered
MindSugar.com Love brands with the name Sugar. Americans LOVE sugar
CryptoCoinHub.com Not taken in many extensions but the dot com evidently has some value
BodyPros.com Workout center, personal fitness
JewishTeens.com there are a lot of these around the world
HawaiianParty.com Sounds fun but don’t see a ton of value
OrganicPaleo.com Because being just one of them isn’t enough
ExcavatorRentals.com If you rent these you’re going to pay for it with one rental
PureRooms.com Virgin Rooms
OkJohn.com Doesn’t mean much to me but certainly memorable
FixItSolutions.com Taken in 18 other extensions. People are using it too
Godaddy Names With One or NO Bids
The Rest of the Godaddy Names with Bids
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